Togolese Economy, Togo Economy
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Economy - overview: This small sub-Saharan economy is heavily dependent on both commercial and subsistence agriculture, which provides employment for 65% of the labor force. Some basic foodstuffs must still be imported. Cocoa, coffee, and cotton generate about 40% of export earnings, with cotton being the most important cash crop. Togo is the world's fourth-largest producer of phosphate, but production fell an estimated 22% in 2002 due to power shortages and the cost of developing new deposits. The government's decade-long effort, supported by the World Bank and the IMF, to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has moved slowly. Progress depends on following through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors.
GDP: 1.9% (2004)
GDP - real growth rate: 3% (2004 est.)
GDP - per capita: Purchasing power parity - $1,600 (2004 est.)
GDP - composition by sector: Agriculture: 39.5% industry: 20.4% services: 40.1% (2003 est.)
Population below poverty line: 32% (1989 est.)
Household income or consumption by percentage share: Lowest 10%: NA highest 10%: NA
Distribution of family income - Gini index:
Inflation rate (consumer prices):
Labor force: 1.74 million (1996)
Labor force - by occupation: Agriculture 65%, industry 5%, services 30% (1998 est.)
Unemployment rate: NA (2003 est.)
Budget: Revenues: $239.2 million expenditures: $273.3 million, including capital expenditures of NA (2004 est.)
Industries: Phosphate mining, agricultural processing, cement; handicrafts, textiles, beverages
Industrial production growth rate: NA
Electricity - production: 108.8 million kWh (2002)
Electricity - production by source:
Electricity - consumption: 451.2 million kWh (2002)
Electricity - exports: 0 kWh (2002)
Electricity - imports: 350 million kWh; note - electricity supplied by Ghana (2002)
Oil - production: 0 bbl/day (2001 est.)
Oil - consumption: 10,000 bbl/day (2001 est.)
Oil - exports: NA
Oil - imports: NA
Oil - proved reserves:
Natural gas - production:
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Natural gas - proved reserves:
Agriculture - products: Coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, millet, sorghum; livestock; fish
Exports: $663.1 million f.o.b. (2004 est.)
Exports - commodities: Reexports, cotton, phosphates, coffee, cocoa
Exports - partners: Burkina Faso 16.4%, Ghana 15.1%, Benin 9.4%, Mali 7.6%, China 7.5%, India 5.6% (2004)
Imports: $824.9 million f.o.b. (2004 est.)
Imports - commodities: Machinery and equipment, foodstuffs, petroleum products
Imports - partners: China 25.5%, India 13.3%, France 11.5% (2004)
Debt - external: $1.4 billion (2000)
Economic aid - recipient: ODA $80 million (2000 est.)
Currency:
Currency code:
Exchange rates: Communaute Financiere Africaine francs (XOF) per US dollar - 528.29 (2004), 581.2 (2003), 696.99 (2002), 733.04 (2001), 711.98 (2000)
Fiscal year: Calendar year
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The information here has been derived from Public Domain Sources such as the CIA World Factbook. No liability can be taken for any inaccuracies.
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